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Day: March 6, 2015
March 62015
Canadian Dollar Drops vs. Greenback, Fares Better vs. Other Currencies
The Canadian dollar dropped against its US counterpart after the release of non-farm payrolls. The loonie fared better against other currencies, rising against the euro and trading sideways versus the Japanese yen, even though Canada’s economic indicators were not particularly good. The US dollar rallied against other currencies after the NFP, making it unsurprising that the Canadian dollar fell against it. The rally of the greenback had also […]
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March 62015
NFP Surprise Positively, Early Rate Hike Is Probable
One of the most important events this week was today’s release of US non-farm payrolls. While analysts expected robust employment growth, the actual report turned out to be even better than was expected, spurring talks about an early interest rate hike from the Federal Reserve. The US dollar rallied against its most-traded peers as a result. According to the payrolls, US employers added as much as 295,000 jobs in February […]
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March 62015
UK Pound Continues to Struggle After BOE Meeting
UK pound is still struggling, thanks in large part to concerns over the low inflation rate. Bank of England policymakers left matters unchanged at its most recent meeting, and sterling is lower against many of its counterparts. Even though there have been signs of recovery in the UK economy, the pound continues to struggle, especially against the US dollar. Bank of England policymakers kept the lending rate at 0.5 per cent […]
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March 62015
EUR/USD at Lowest Level in Decade After NFP
EUR/USD dipped to the lowest level in more than a decade during Friday’s trading session after US nonfarm payrolls exceeded even optimistic forecasts. The data led to speculations that the Federal Reserve may start its monetary tightening cycle earlier. Such talks are very bullish for the US dollar. Nonfarm payrolls grew by 295k in February while experts predicted the same 239k growth as in January (revised down from 257k.) […]
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